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Nov 20, 2019

Lowe's to shutter 34 stores across Canada beginning in January

Lowe’s didn’t fully understand the Canadian market: Analyst

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Lowe’s Canada will close 34 underperforming stores, including 26 Rona locations, the company said Wednesday.

The move comes following a strategic review of the North Carolina-based retailer’s operations.

"While making decisions that impact our associates and their families is never easy, closing underperforming stores is a necessary step in our plan to ensure the long-term stability and growth of our Canadian business," said Tony Cioffi, interim president of Lowe's Canada, in a release.

"We are taking decisive action to build a healthy business which will provide us with the flexibility to reinvest in our future growth. This includes having a clear strategy for our banners, built on the strength of our Lowe's, RONA and Reno-Depot brands.”

Lowe’s, which acquired Quebec-based Rona Inc. in 2016 in a deal valued at about $3.2 billion, said eligible employees affected by the closures will be offered the chance to transfer to a nearby store.

“Often when you see these major acquisitions – with [Lowe’s] buying out Rona a few years ago – you start to see this,” said Ryan Lewenza, senior VP and portfolio manager at Turner Investments, on BNN Bloomberg. “They start to close some of the underperforming branches and assets. So not a big surprise. What I’m more focused on is: is this a bigger trend?”

It’s not the first time the company has announced mass store closures in this country. In November 2018, Lowe’s said it would shutter 31 Canadian locations by Feb. 1, 2019. And the closures are a dramatic departure from the optimistic tone from the CEO of Rona who presided over the retailer’s takeover by Lowe’s in 2016.

"I am confident that Rona will be in good hands as part of Lowe's and will have new opportunities and resources to grow its brands and build upon its heritage, providing Canadians with trusted products and advice to build and renovate their homes in total confidence," said Robert Sawyer in a release on May 20, 2016. 

"This is an excellent next step for our people, our partners, our customers and our former shareholders." 

Lowe's has more than 600 corporate and independent affiliate stores under the Lowe's, Rona, Reno-Depot, Ace and Dick's Lumber brands in Canada, and seven distribution centres.

Here’s a full list of the newly-announced store closures and dates by province.

BRITISH COLUMBIA

-Lowe's Prince George 2999 Massey Drive. Closing Feb. 19, 2020
-RONA Surrey (Newton) 6965 King George Boulevard. Closing Jan. 31, 2020'
-RONA Osoyoos 6014-51 Street. Closing Jan. 31, 2020

ALBERTA

-Lowe's Calgary - Shawnessy 295 Shawville Boulevard S.E. Closing Feb. 19, 2020
-RONA Airdrie 2649 Main Street South. Closing Jan. 31, 2020
-RONA Calgary (Midnapore) 14815 Bannister Road S.E. Closing Jan. 31, 2020
-RONA St. Albert 730 St. Albert Trail, St. Albert. Closing Jan. 31, 2020
-RONA Sherwood Park 340 Baseline Road, Sherwood Park. Closing Jan. 31, 2020
-RONA Edmonton (Ellerslie Road) 1003 Parsons Road S.W., Edmonton. Closing Jan. 31, 2020

SASKATCHEWAN

-Lowe's Regina - North 489 Albert Street North. Closing Feb. 19, 2020

ONTARIO

-Lowe's Etobicoke - North 48 Lowe's Place. Closing Jan. 31,2020
-Lowe's Thunder Bay 1000 Fort William Road. Closing Jan. 31, 2020
-Lowe's Cornwall 950 Brookdale Avenue. Closing Jan. 31, 2020
-RONA Brockville 550 Stewart Boulevard.. Closing Jan. 31, 2020
-Home & Garden RONA - Cambridge 66 Pinebush Road. Jan. 31,2020
-RONA Mississauga (Rockwood 4141 Dixie Road. Closing Jan. 31, 2020
-Reno-Depot Aurora 140 First Commerce Drive. Closing Jan. 31, 2020
-RONA Oshawa 1279 Simcoe Street North. Closing Jan. 31, 2020
-RONA Ajax 19 Notion Road. Closing Jan, 31, 2020

QUEBEC

-RONA Granby 316 rue Denison Est.Closing Jan. 31, 2020
-RONA Sorel 1293 chemin des Patriotes. Closing Jan. 31, 2020
-RONA Bécancour 3365 boulevard Bécancour. Closing Jan. 31, Bécancour 2020
-RONA Nicolet 2145 boulevard Louis-Fréchette. Closing Jan.31, 2020
-RONA Saint-Tite 700 rue Notre-Dame. Closing Jan. 31, 2020
-RONA Trois-Rivières 15 rue Philippe-Francoeur. Closing Jan. 31, 2020
-RONA Saint-Félix-de-Valois 3110 rue Henri-L. Chevrette. Closing Jan. 31, 2020
-RONA Carignan 2395 chemin de Chambly. Closing Jan. 31, 2020
-RONA Saint-Lambert 707 rue Saint-Charles. Closing Jan. 31, 2020
-RONA Saint-Sauveur 180 rue Principale. Closing Jan. 31, 2020
-RONA Bellefeuille - 905 boulevard de la Salette.  Closing Jan. 31, 2020
-Réno-Dépôt Trois-Rivières 4575 boulevard des Forges. Closing Jan. 31, 2020

NOVA SCOTIA

-RONA Dartmouth, 500 Windmill Road. Closing Feb. 19, 2020
-RONA Dartmouth, 1000 Cole Harbour Road. Closing Feb.19, 2020
-RONA Bedford 1658 Bedford Place Mall. Closing Feb. 19, 2020

 

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